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Stellantis and Mercedes-Benz became the latest automakers on Wednesday to scrap their profit guidance citing market uncertainty wrought by tariffs.

Stellantis and Mercedes announced on Wednesday they would withdraw their full-year financial guidance for 2025, becoming the latest companies to cut or pull earnings forecasts in recent weeks as they cite market uncertainty aggravated by President Donald Trump's tariffs.

An export drop is bad for China, and it adds to ominous warnings about the impact on tariffs on U.S. growth.

Chrysler owner Stellantis and Mercedes-Benz withdrew their guidance for the year while Volkswagen said it was expecting profits at the low end of a previous range as automakers struggle to assess the impact of President Donald Trump's tariff policy.

The German luxury-car maker said Wednesday that its previously announced guidance would remain unchanged without any further tariff impact.

Mercedes-Benz on Wednesday reported lower profitability in its cars business in the first quarter and warned that tariffs could impact its full-year earnings, as trade tensions forced the luxury carmaker to scrap its outlook.

Mercedes-Benz has signed a new agreement with Luminar Technologies to develop and integrate its latest lidar product, Luminar's CEO said, shifting from a supply deal for its currently available sensors.

Mercedes-Benz CEO Ola Källenius said on Wednesday the German automaker was urging the European Union to find an "equitable solution" to create a level-playing field for China-made electric vehicles in Europe.

The auto industry is in distress but not extreme distress; stable companies with low valuations like Toyota, Honda, and Li Auto are likely to outperform. Despite recent selloffs, markets remain richly priced; value investing may now have a chance to redeem itself, especially in distressed industries. Established automakers face declining margins and sales, while newer EV manufacturers see rising sales but flat or negative profits.

German carmaker Mercedes-Benz unveiled on Tuesday a new all-electric luxury limousine segment it called "Vision V" which it said marked the expansion of the top end of its vans portfolio.